MIAMI-The Chapter 11 bankruptcy filing for the $3-billion Fontainebleau Las Vegas hotel does not extend to the one located here, according to a report in The Miami Herald. Developer Jeffrey Soffer, heir to one of South Florida’s top real-estate portfolios, is pushing for the $800 million needed to restart construction at the troubled and unfinished casino tower.

Soffer’s team is emphasizing that the condominium and hotel project’s woes will not infect its namesake, the newly renovated Fontainebleau Miami Beach, which Soffer bought at the same time he announced the Vegas project in 2005. The 1,500-room hotel reopened last October after undergoing $500 million worth of renovations, and Soffer is partnered with Nakheel Hotels last year on the iconic resort.

“Fontainebleau Miami Beach is not collateral” on the Vegas debt, says Scott Baena, a bankruptcy lawyer with Miami’s Bilzin and Sumberg firm who represents the Fontainebleau Vegas. “It’s not a borrower. It’s not cross-collateralized. It is on the other side of the Mississippi.” Click here to read the full report from The Miami Herald.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.